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REGISTER A NIDHI COMPANY


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REGISTER A NIDHI COMPANY


in just 14,900/- ( Inclusive of All Taxes )

Keynotes on Nidhi Company Registration


Lowest fees across India

It takes 10 to 15 days for Nidhi Company Registration

Completely online service - No physical presence required.

Minimum capital to start Rs. 5,00,000/-

Instant access to Nidhi Software & Compliances


Nidhi Company Registration Online in Fastest Way

A Nidhi company's primary source of income comes from lending and borrowing money only for its members. A Nidhi corporation may accept deposits from its members and make payments to them. The Nidhi business registration service is provided by a team of enthusiastic and highly skilled professionals at Click 4 Business Solutions Pvt Ltd Pvt Ltd. Nidhi business formation is a simple process that doesn't need RBI permission in India.

We support developing business owners by processing their Nidhi company registration materials precisely and completing the registration process in the quickest and easiest manner possible. Our professionals have extensive experience in offering a variety of services, including income tax registration for various enterprises, including private, public, trust, and society businesses, as well as GST registration. We're here to support you as you launch, manage, and expand your Nidhi Limited Company quickly in the financial sector. It's a special kind of mutual benefit fund or Nidhi corporation that ultimately serves the interests of its members solely.

We are aware of the online Nidhi company registration process to help the registration process go as quickly as possible. We use cutting-edge technology at Click 4 Business Solutions Pvt Ltd Private Limited, and our professionals have extensive knowledge of Tally, MS Office, SAP, and other high-end programs. You can get in touch with us to hire trustworthy and knowledgeable advisors for Nidhi company registration.

Click 4 Business Solutions Private Limited employs capable and highly motivated personnel. While working in any industry, we always keep ourselves up to date on any technical developments, upgrades, and modifications. With reasonable Nidhi company registration rates, our experts provide the best services. Contact us as soon as possible if you want to launch your Nidhi business at a minimal cost.


Nidhi Company Registration Process

The process for registering a Nidhi corporation is simple, but assistance from an expert is advised in order to submit challenging forms on time. Understanding government sites and the terminologies used therein could appear to be challenging. Please describe the steps involved in forming a Nidhi firm.


Authentication of all Directors and Shareholders

There must be at least three directors and seven members. Directors and members might both be the same person. A maximum of three people may serve as directors at the moment of the company's incorporation without DIN numbers.


Electronic Signature

A vital requirement for starting the Nidhi Company Registration Process is DSC (Digital Signature). Every form that is submitted needs to be self-attested.


IS THE REGISTRATION OF PUBLIC LIMITED COMPANIES ONLINE POSSIBLE?

Yes, Click 4 Business Solutions offers the quickest response time for online public limited company registration. You are not required to physically be at your desk. You are only a few clicks away from registering a Public Limited Company in India from anywhere. In West Bengal, Kolkata, Delhi, UP, Maharashtra, MP, Mumbai, Jaipur, Varanasi, Lucknow, Uttarakhand, Dehradun, Assam, Gujarat, Haryana, Pune, Punjab, Rajasthan, Bihar, Jharkhand, and Uttar Pradesh, we provide quick public limited company registered at the lowest cost with step-by-step instructions. To provide its clients with public limited company registration online service, we have a team of trained professionals.


Required information :

1. Email address and phone number

2. Aadhaar and PAN

3. Passport Size Photo


Acceptance of Name

The suggested names for the Nidhi Company must be original and different from those of other firms that are currently registered businesses. The Reserve Unique Name (RUN) form can be used to reserve the name.

Documentation

After digital signature and name approval, we will write the articles of association, memorandum of association, subscription sheet, and sheets for the directors' and shareholders' declarations for their acceptance.

FINAL INCLUDEMENT (MoA and AoA)

After the naming procedure has been approved, a SPICe Form application for Nidhi Company Registration should be submitted. The Nidhi Company's Memorandum of Association (MoA) and Articles of Association (AoA) must be submitted with the application. COI is issued after the application has undergone a thorough inspection.

TAN & PAN

Applications for PAN and TAN will be processed through Nidhi Company Registration.


What are the requirements for registering a public limited company?

To start a Public Limited Company in India, you must have at least seven people in your company. These 7 people are eligible to serve as shareholders and directors of the company. Although there is no upper restriction on the number of people who can become shareholders in a public limited corporation.

Three or more directors are required, one of whom must be an Indian citizen.

For a public limited company, Rs. 5 lakh in authorized capital and minimum subscribed share capital are required.

A crucial requirement for starting the public limited company registration process is a digital signature (DSC). Every form that is submitted needs to be self-attested.

Required information:

Email address and phone number

Aadhaar and PAN

When submitting self-attested copies of address and identification documentation, a digital signature certificate from one of the directors is necessary. All seven shareholders must affix their digital signatures to the articles of association and memorandum of association (e-Form) (e-Form).

An application using the RUN Form must be made in order to choose the company's name.

The major object clause of the company must be included in the memorandum of association. This object clause might specify the goals that a company will pursue after incorporation. The application must be filed to the ROC (Registrar of Companies) via the SPICE e-Form along with all necessary paperwork, including the AOA (Articles of Association), MOA (Memorandum of Association), Form INC-9, properly filled out Form DIR-2, and Form INC-10.

The ROC must receive the necessary MCA registration costs.

The company should apply for the certificate of business beginning once it has received ROC clearance.

Distinctive name –

A public limited company's name must be distinctive and cannot be the same as any other company name or trademark that already exists.

A Public Limited Company must disclose its financial situation to its shareholders and is handled severely.



What are available in Nidhi company?

Company PAN Card

TAN of The Company

Declaration of Incorporation

Resolution By The Board To Open A Bank Account

Three-digit director identification code

7 Electronic Signature

Articles Of Association

Association Bylaws

Registering for GST

Certificate of Shares


Documents Required For Nidhi Company Registration



PAN CARD

Every director and shareholder of the company must provide their PAN card


ID PROOF

A voter card, driving license, or passport of the shareholders and directors of the company is required.


BANK STATEMENT

Directors and shareholders of the company need to provide their bank statements that are not older than that 2 months should be provided.


PASSPORT SIZE PHOTOGRAPH

Passport-size photographs of the shareholders and the directors of the company are needed.


REGISTERED OFFICE PROOF

If the property is owned, then utility bills like electricity or water bills, and in the case of rented property Noc from the owner is required.



Best Nidhi company registration services in India

We offer a brisk online Nidhi company registration that too at an affordable price. We offer some of the best Nidhi registration services in West Bengal, Delhi, UP, Maharashtra, MP, Mumbai, Jaipur, Varanasi, Lucknow, Uttarakhand, Dehradun, Gujrat, Assam, Gujarat, Haryana, Punjab, Pune, Jharkhand, Bihar, Murshidabad, Habra, Barasat, Midnapore, Nadia, North-South 24PGS. Our team of enthusiastic and experienced professionals is here to offer the smoothest Nidhi limited company registration and also equip our clients with technical updates and technologies.


Guidelines before starting a Nidhi Company in India

The minimum number of members needed net owned funds required etc (as per Nidhi rules, 2014) :-

Every Nidhi company should possess all the following within a year of incorporation :

a) At least 200 members

b) Rs 10 lakhs of Net owned Funds

c) 10% or more of the outstanding deposits, as stipulated per Rule 14, in unencumbered deposits; and

d) 1:20 should be the ratio between net owned funds to deposit.


General prohibitions or restrictions of a Nidi company(according to Rule 6 of Nidhi rules, 2014) :-

a) Continue to conduct business in the areas of leasing financing, chit funds, insurance, and the purchase of securities distributed by corporate entities;

b) Issue any form or name of debentures, preferred shares, or other debt instruments;

c) Open a current account with the group's participants;

d) Acquire another company through the purchase of securities, manage the Board of Directors of any other company in any way, or start making plans to change its management unless a special resolution has been approved by the company's general meeting and has also received the prior approval of the Regional Director in charge of that Nidhi;

e) Engage in any activity in its own name other than lending or borrowing, provided that the rental income from such activities does not exceed 20% of Nidhi's gross income at any time during a fiscal year. Nidhis that have complied with all the requirements of these rules may rent locker facilities to their members.

f) Accept deposits from or lend money to anyone except its members;

g) Confirmation of any assets put up as security by its members;

h) Accept deposits from businesses or lend money to them;

i) Enter into any partnership arrangement in its lending or borrowing activities;

j) If information about the fixed deposit system is distributed privately to Nidhi members only, the phrase "for private circulation to members only" shall not be construed as an advertisement for accepting deposits. j) Provide or induce to provide any advertisement in any manner for accepting deposits.

(k) Pay commission or incentive for collecting deposits from members, deploying cash, or approving loans.

Branches (according to Rule 10 of Nidhi Rules, 2014) :-

Operations are carried out at the district level during the first three years. Three branch offices can be opened in the district or elsewhere after receiving the regulator director's approval.

Others :-

a) The value of the share must be at least 10 rupees.

b) The loan may be subject to a maximum annual interest rate of 20% under the decreasing balance technique.

c) A Nidhi company may offer loans backed by assets. Gold, LICs, FDs, real estate, and LICs are examples of securities.

d) Maximum 7.5% above NBFC rate for loans for interest (reducing Balance method)

Savings Bank Interest cannot be higher than 2% of the Bank Rate.

Interest Rates for FDs and RDs, Per the RBI

e) Deposit Period



PARTICULARS PERIOD
Fixed Deposits Minimum 6 months maximum 60 months
Recurring Deposits Minimum 12 months maximum 60 months

Advantages of Nidhi Company Registration


No RBI Regulations –

A Nidhi company is outside the observation of the Reserve Bank of India. It does not require RBI authorizations for managing a Nidhi business in India.


Fixed paid-up capital -

The minimum Paid Up Capital requirement of Rs. 5 Lakhs for Nidhis has been eliminated by the Ministry of Corporate Affairs.


Simple formation -

They only need to register as a public company with the MCA, inject the necessary capital in accordance with the Nidhi Rules of 2014, and they are ready to go.


Small investments are helped to be channeled –

Members' meager resources go toward funding Nidhi firms and are used to obtain credit from them.


The lower rate of credit -

The interest rates on the loans provided to members are lower than those charged by the market.


No outside interference -

A third party is not permitted to interfere with how the Nidhis operate.



Drawbacks of a Nidhi company

The interest rates on the loans supplied to the members are lower than the market rate.


Small-scale Fundraising

The number of members determines how much money can be raised.


Limited credit availability -

When the money raised is restricted, the credit options are similarly constrained.


What regulations must Nidhi Company abide by?

It is a Declaration to be given by the directors within 180 days of incorporation of company mentioning that the subscribers to the Memorandum of the company has paid the price of shares so accepted by them, with a verification of registered office address of the company. This declaration requires to be filed with proof of subscription money obtained by the company in form 20A with the Registrar of Companies.


First Auditor Appointment –

Auditor Appointment According to section 139(6), the Board must appoint the business's first non-government company auditor 30 days after incorporation. An EGM (Extraordinary General Meeting) must be held to select the first auditor within 90 days if the board fails to do so.


Prospectus –

A prospectus is a comprehensive report on a firm's operations that is given out by a public limited company. According to the laws, public limited companies must publish a prospectus. However, private limited companies are not covered by such provisions. As a result, private limited companies are unable to solicit the public to subscribe to their shares.

The first annual general meeting of any corporation must elect an auditor who will serve from that time until the end of the sixth annual general meeting and then until the end of each subsequent meeting.


NDH 1 –

Nidhi is required to file a return of statutory compliances in Form NDH 1 with the Registrar within 90 days of the end of the first financial year following its registration and, if applicable, the second financial year. The form must be certified by a chartered accountant, a company secretary, or a cost accountant in practice, and it must be submitted with the fee specified in the Companies (Registration Offices and Fees) Rules, 2014.

Information needed for NDH 1 :

a) Branch Information

b) Members Information

c) Deposit Information (Like FD, RD, Savings Deposit, etc.)

d) Loan Specifics (Like loan against immovable property, loan against deposits, etc.)

e) Litigation information, etc.

f) Financial Summary: Net Owned Fund to Deposits Ratio, Bank-by-Bank Deposit Information

NDH 2 –

If a Nidhi is not abiding by clauses (a) or (d) of sub-rule (1), it must apply to the Regional Director for an extension of time in writing using Form NDH 2 and the fee specified in the Companies (Registration Offices and Fees) Rules, 2014, within thirty days of the end of the first financial year. The Regional Director may decide on the application and issue a decision within 30 days of receiving the application.

The Regional Director may only extend the time frame by up to a year from the application's receipt date.


NDH 3 –

Form NDH 3 must be completed in conjunction with a half-yearly return and the aforementioned form.

NDH3 needs the following information:

a) The number of members admitted

b) The membership decreased

c) The Net Owned Funds Calculation

d) Deposit information


NDH 4 -

Form to be submitted for applications to be declared Nidhi Companies and for Nidhi Companies to update their status.


Profit & Loss and Balance Sheet –

Within 30 days following the AGM, Form AOC-4 must be filled out with the financial statements and other related papers (Annual General Meeting).


Free transfer of shares –

In contrast to private limited businesses, shares can be transferred freely and without the approval of other shareholders.


ROC Annual Returns –

ROC Annual Returns - Within 60 days of the AGM, a Nidhi Company must submit its Form MGT-7 annual return to the Ministry of Corporate Affairs.


Ownership of Property –

Public limited companies are able to purchase, sell, and own property just like individuals.


Income Tax Returns –

Annual returns must be filed by Nidhi Company by 30th September of the next financial year.


Difference between Nidhi, society, and Microfinance


POINTS NIDHI COMPANY REGISTRATION NBFC REGISTRATION PROCEDURE INDIA (MICRO FINANCE) SOCIETY REGISTRATION PROCESS IN INDIA
Minimum Paid up Capital Rs 5 Lakh Rs. 5 Crore Varies in different states
Number of Person needed Rs 7 Lakh Rs. 2 Crore 15 or more
Approval of RBI Not needed Compulsory Not applicable
Area of Operation District level India Applicable district
Time and Cost of Registration 15 days and Rs 14900 3 to 5 Months and Rs 6 to 7 lakhs 1 to 3 months and Rs 15000 to 20000
Ownership Held by shareholders Held by shareholders Decided by elections
Perfect for Beginner Experienced Moderate experienced

Frequently Asked Questions about Nidhi Company Registration


Ques: Is it legal to operate a Nidhi Company in two states?

Nidhi Company is not permitted to conduct business outside of the state in which it is registered.


Ques: Why Nidhi Company should be registered?

Low mobilization of deposits

Perfect for middle and lower-income groups

Loan at lower interest rates

Secured and on-time returns

There is not any extra interference


Ques: What requirements must be met in order for Nidhi Company registration to be complete?

Following completion of Nidhi Company's registration process, the following requirements must be satisfied within a year:

200 members or more must be registered.

Net owned money should be kept at least at Rs. 10 lakh.

10% of all unpaid deposits should be free-standing term deposits.

Net Owned Funds to Deposit Ratio must be 1:10


Ques: Is it legal to promote a Nidhi Company's operations?

No, Nidhi Company is not permitted to promote its operations. Nidhi's primary goal is to encourage its members to develop good saving and spending habits. Through incentives, it stops non-members from requesting deposits.


Ques: What is called DSC?

Digital signature certificate denotes signing the important documents by an authorized individual digitally or electronically. This is used for signing the electronic forms only. It is not applicable for physical documents.

In order to encourage the provision of loans or the mobilization of deposits for members, Nidhi Company is not permitted to pay out any kind of incentive or brokerage.


Ques: Can a Nidhi Company acquire stock in another company?

Nidhi Company is unable to purchase the securities or shares of any other business or institution.


Ques: Do Nidhi Companies have the ability to open current accounts with its members?

Nidhi Company is unable to set up a current account with the members.


Ques: Is there any task that a Nidhi Company performs that isn't legal borrowing and lending?

No, other than borrowing and lending, Nidhi Company is not permitted to carry out any other kind of activity in its own name.


Ques: Is it prohibited for Nidhi Company to open another branch?

Yes, it is prohibited from opening a new branch until three years have passed since the completion of its registration and a net profit after tax has been earned continuously.


Ques: How many branches have Nidhi Companies opened?

A Nidhi Company may open up to three branches after meeting the requirement of generating profits for three years in a row. The Nidhi Company's branches must be located in the same district as the company's registration.

It is necessary to obtain prior approval from the regional director before opening any more branches, either inside or outside of the district.


Ques: Is it possible for Nidhi Company to make unsecured loans?

No, Nidhi Company can only grant secured loans to its members.


Ques: Which securities are required by Nidhi Company in order to provide loans to its members?

To make secured loans to its members, Nidhi Company needs the following securities:

Permanent Structures

Jewelry made of gold, silver, and other priceless metals.

Government securities, National Savings Certificates, Fixed Deposit Receipts, Insurance Policies, and others


Ques: Which loans Nidhi Company can't make?

Loans of the following kind cannot be made by the Nidhi Company:

Asset / Vehicle financing

Hire-purchase

Microfinance


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